Hexpol acquires Müller Kunststoffe for EUR 39 million

Müller Kunststoffe is a Central European developer and manufacturer of thermoplastic elastomer compounds and has two production units in Lichtenfels, Germany.

"The acquisition constitutes yet another step in our ambition to broaden our product range within our Compounding business area" says Georg Brunstam, President and CEO of Hexpol Group. "The market for TPE compounding is undergoing great growth with interesting and increasing customer applications within the field of medical, consumer, general industry and automotive. Müller Kunststoffe perfectly complements our European TPE compounding operations where we already have units in the UK and Sweden. We are also right now building a manufacturing plant in southern China for TPE compounding. Müller Kunststoffe is a well-established and well-managed company with strong management and a strong brand."

Müller Kunststoffe is expected to be consolidated during January 2012 after subject to regulatory approvals and other customary conditions. The company has an estimated annual turnover of approximately EUR 46 million with around 90 employees. The acquisition price adjusted for acquired net debt amounts to EUR 39 million and is funded by a combination of cash and existing bank loans.